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EMP, EMPEROR MINES LIMITED
stockman2678
post Posted: Dec 2 2007, 07:10 AM
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Emperor Mines Ltd had ruled out taking on projects in Africa, Europe, China or Russia to focus instead on the Americas and Asia-Pacific region, the company said.

Chief executive Brad Gordon told shareholders at Emperor's annual general meeting in Perth on Thursday that the company would maintain its primary focus on gold and that its Tujuh Bukit gold, silver and copper project in Java was "a potential company maker".

Mr Gordon's comments came as Emperor mergers with Canada's Intrepid Mines Ltd.

The troubled gold miner agreed to merge with Intrepid in September and is set to become a multi-metal play through Intrepid's Casposo gold and silver project in Argentina, Taviche gold-silver project in Mexico and Paulsens gold mine in Western Australia.

As part of a recent, radical restructure, Emperor was forced to sell all its producing assets, namely its Vatukoula gold mine in Fiji and its stake in the Porgera gold mine in Papua New Guinea (PNG).

The divestment was prompted by the mines' poor performance and consecutive annual losses.

After the meeting, Mr Gordon told AAP the company would look at other metals if such projects "could add significant value".

"That's what has attracted us to the Indonesian project," he said.

"If the copper system is as good as we think it is, we will mine copper in the future as well.

"We see significant upside at both Paulsens and Casposo, and we will be expecting the start of the good news from the first quarter of next year.

"We expect improved performance at Paulsens starting December quarter this year and we'll have some news on the approvals and development of Casposo within the next few months.

"(We) expect to announce some drilling results on the Indonesian property in the next month or two."

Mr Gordon told shareholders the Australian Securities and Investments Commission's review of the Intrepid merger would be completed by December 12.

The merger will be via a scheme of arrangement, with Emperor shareholders receiving one Intrepid share for every 4.25 Emperor shares held.

Implementation of the merger is expected on March 3.

Mr Gordon said the merger would allow Emperor shareholders to benefit from Intrepid's low-cost production and listing on the Toronto Stock Exchange as well its substantial project-development pipeline.

"The `new Intrepid' will have the balance sheet strength and depth of management skills to fully exploit the opportunities available to it."

Mr Gordon said Emperor was selling its last producing asset, the Tolukuma gold mine in PNG, where the site workforce had been reduced by 20 per cent.

In Emperor's September quarter report, Mr Gordon said the sale of Tolukuma would free up management and other resources to concentrate on implementing the company's growth strategy.

Last month, DRDGold's 78.7 per cent shareholding in Emperor was sold to a range of domestic and international institutions and investors.

Mr Gordon said the sell down had opened up the share register and provided stock liquidity.

"Emperor's management team have successfully delivered a major transformation of Emperor, through the closure of Vatukoula, the sale of (the stake in) Porgera for $US255 million, the pay down of debt and hedging, and the capital return of $52 million," he said.

Shares in Emperor closed steady at seven cents, while Intrepid's shares finished 2.5 cents weaker at 29 cents.

 
stockman2678
post Posted: Nov 29 2007, 12:47 PM
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Any one go to the AGM?

 
stockman2678
post Posted: Nov 20 2007, 07:41 AM
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In reply to: one fat lady on Monday 19/11/07 05:28pm

What was todays announcement. I must have missed something?

 
one fat lady
post Posted: Nov 19 2007, 05:28 PM
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In reply to: stockman2678 on Monday 19/11/07 02:04pm

looks good for a short term profit after todays announcement.

 
stockman2678
post Posted: Nov 19 2007, 04:04 PM
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Anyone else been doing any research on this company? Could be a good company turnaround here! Emperor Mines were heading towards Australia's top 3 gold producers, only a couple of years ago! They have restructured, sold off bad sentiment and are ready to take on the world!

 
GoFreo
post Posted: Nov 13 2007, 09:30 PM
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Maybe just the jittery market atm....sure hope it is......as theyve gone down past my -5% sell target and Ive still kept them!



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If I get this right.....I maybe able to retire at 65!
 


stockman2678
post Posted: Nov 13 2007, 11:59 AM
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In reply to: GoFreo on Wednesday 07/11/07 11:37am

How far is this bot trader going to go? unsure.gif

 
GoFreo
post Posted: Nov 7 2007, 11:37 AM
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Thanks for your help.....need all I can get atm, as Im fairly new to this. I will take a look at the financials.... thanks!
Linda



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If I get this right.....I maybe able to retire at 65!
 
fatty
post Posted: Nov 7 2007, 10:45 AM
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Take a look at the financials..hope this helps, basically lost $237M last yr, good luck..

chart looks good though, I guess this is what caught your DT friends eye..

 
GoFreo
post Posted: Nov 7 2007, 10:34 AM
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The recommendation was from a friend that does day trading.....but I did some research myself and found out its a strong buy on Huntleys so I went ahead and bought!



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If I get this right.....I maybe able to retire at 65!
 
 


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